$2,495,000
 $13,394 est/mo Sourced by Back At You

701 Terrace Dr,LakeOswego, OR 97034

LakeOswego, OR 97034

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Description

Set on a private 0.42-acre lot in Lake Oswego's coveted Palisades neighborhood, this lakefront traditional offers sweeping Oswego Lake views and exceptional indoor-outdoor living. The 3,852-square-foot home features vaulted ceilings, sunken living room, formal dining, and an open kitchen / great room that flows seamlessly to outdoor entertaining spaces through French doors. A standout feature is the recently rebuilt private boathouse with an expansive rooftop deck complemented with a dock, boat lift, landscaped grounds, and irrigation supported by deeded water rights-an ideal setting for lakeside gatherings as bald eagles and herons pass overhead.The upper-level primary suite includes a sitting area, dual walk-in closets, and a well-appointed bath. Three large additional bedrooms and a dedicated office offer custom built-ins and generous space.Other recent capital improvements are dual HVAC systems, water heaters, and a whole-house generator, providing year-round comfort and reliability. Additional features include a large two-car garage and security system. With access to top-rated Lake Oswego schools, this is a rare opportunity to own a true legacy waterfront property.

Details

MLS #663841569
Listing TypeFor Sale
StyleHouse
HOA Dues$2,985
Sub-TypeResale
StatusActive
Year1969
Days On Site187
Listing Provided ByHarnish Company Realtors | Justin Harnish

Features

Bed(s)4
Bath(s) 5 Total
SQ Feet3,852
Garage2
BasementY
Story(s)2
Acreage0.42
Water FrontYes
Property ViewLake

Interior

HeatingForced Air
Heating YnYes
CoolingCentral Air
Cooling YnYes
Interior FeaturesAir Cleaner, Ceiling Fan, Garage Door Opener, Hardwood Floors
Window FeaturesDouble Pane Windows, Storm Window
AppliancesBuiltin Oven, Convection Oven, Dishwasher, Disposal, Down Draft, Free Standing Refrigerator, Gas Appliances, Granite, Instant Hot Water, Microwave, Plumbed For Ice Maker, Stainless Steel Appliance, Water Purifier

Exterior

Exterior FeaturesBoat House, Covered Patio, Deck, Dock, Fenced, Garden, Gas Hookup, Outbuilding, Sprinkler, Storm Door, Yard
RoofComposition
Security FeaturesSecurity System Owned
Foundation DetailsConcrete Perimeter
Lot FeaturesPrivate, Sloped

Parking

Attached Garage YnYes
Parking FeaturesDriveway

Taxes

Property28046

Area Information

StateOR
CountyClackamas
CityLakeOswego
Zip Code97034
Community NameMcvey Southshore
School DistrictLakeridge
Elementary SchoolHallinan
High SchoolLakeridge
Listing VS Median (in Mcvey Southshore)
Price:
$2,495,000
low | high
Med:
$2,495,000
50% of Average
sqft:
3,852
low | high
Med:
3,852
50% of Average
$ / sqft:
$648
low | high
Med:
$648
50% of Average
On site:
187
low | high
Med:
187
100% of Average
Sourced by Back At You

Market Activity 97034

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Learn More About This Property

StateOR
CountyClackamas
CityLakeOswego
Zip Code97034
Community NameMcvey Southshore
School DistrictLakeridge
Elementary SchoolHallinan
High SchoolLakeridge
Listing VS Median (in Mcvey Southshore)
Price:
$2,495,000
low | high
Med:
$2,495,000
50% of Average
sqft:
3,852
low | high
Med:
3,852
50% of Average
$ / sqft:
$648
low | high
Med:
$648
50% of Average
On site:
187
low | high
Med:
187
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/2 mile)
Price: $1.871M - $3.118M
sqft: 2,500 - 4,500
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920 FAIRWAY RD Property Photo 1
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Listing Updated: October 22, 2026 at 2:48:33 PM PDT